Question about cargo insurance.
#1
11-15-2006, 07:03 PM
Question about cargo insurance.
What is the general limit to how much cargo coverage an independant carrier would need to haul loads?
Thanks in advance. 
#3
11-15-2006, 07:08 PM
that $100,000 might be the legal minimum but most companies with which I am familiar carry more...usually around $500k or even $1M
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Tom
#5
11-15-2006, 08:03 PM
my coverage is 2 million, I dont really get close to that amount but I do get the occasional piece of equipment slightly over 1 million, at least with my insurance company there wasn`t many policies between the 1 and 2 million dollar mark.
#7
11-15-2006, 09:14 PM
It would be a good idea to have more than the minimum required by law. If you roll your truck with 250K worth of cargo inside you will be liable for the amount that your insurance does not cover. Possibly losing your house, car, etc.
#8
11-15-2006, 10:13 PM
Originally Posted by larryh31
It would be a good idea to have more than the minimum required by law. If you roll your truck with 250K worth of cargo inside you will be liable for the amount that your insurance does not cover. Possibly losing your house, car, etc.
I don't ever remember hauling a load where $100k would cover loss.
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#9
11-15-2006, 11:29 PM
Senior Board Member
Join Date: Jan 2005
Location: East Central IL between the corn and the beans
Posts: 4,977
It all depend on what you are hauling. There are shippers that will not allow you to haul their cargo unless you have enough insurance.
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#10
11-15-2006, 11:31 PM
Originally Posted by larryh31
It would be a good idea to have more than the minimum required by law. If you roll your truck with 250K worth of cargo inside you will be liable for the amount that your insurance does not cover. Possibly losing your house, car, etc.
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